On March 21, 2018, the Office of the Superintendent of Real Estate (OSRE) published new proposed Rule changes. They include:
- inclusion of Council’s English language proficiency requirement for new applicants in the Rules
- a new requirement for licensees to complete designated continuing professional education courses, typically when significant new rules are introduced
- designating the first continuing professional education course to be completed by trading services and rental property management licensees
- new rules to address conflicts of interest where a licensee finds themselves potentially working with multiple parties that would constitute dual agency
- clarification that the disclosure of remuneration to sellers under section 5-11.1 must be expressed as a dollar amount if it is received as money
The Superintendent has rule-making authority and it is the role of Council to implement and enforce the Rules.
BCREA and Boards are reviewing the Rules to determine their impact on the profession and consumers.
What you can do:
BCREA is encouraging all BC REALTORS® to review the information from OSRE and consider the implications – for you, your business and consumers.
The Superintendent would like to hear your perspective about the proposed new Rules. To provide input to OSRE, you can complete an anonymous online survey (deadline: April 20 at 6 pm) or send your comments to osrepolicy@gov.bc.ca.
As well, BCREA is requesting that you copy them at bcrea@bcrea.bc.ca if you are providing input to OSRE to ensure the association is prepared to represent your perspective in their advocacy work.